Expectations unexpectedly fell with is something many have come to expect … if you know what we mean.

As Kathleen Madigan of the Wall Street Journal reports:

The Thomson-Reuters/University of Michigan preliminary March sentiment index unexpectedly slipped to 79.9 from an end-February reading of 81.6, according to an economist who has seen the numbers. The early-March reading was well below the 81.8 reading expected by economists surveyed by The Wall Street Journal.

The numbers bounce around. Some are good and some are bad. Many are unexpected. Yesterday’s first-time claims number was good and gave hope to those who believe that there may be more jobs out there for people who are looking for work. But we have been traveling that road for a long time and one tends not to let those expectations get too far out ahead of reality.

Which is … more than half the country believes the economy is still in recession. Which makes for some not very hopeful expectations.

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